Celanese Corp. (CE) Given Average Rating of “Buy” by Analysts
Celanese Corp. (NYSE:CE) has earned an average recommendation of “Buy” from the nineteen brokerages that are presently covering the company. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $73.96.
CE has been the topic of several recent research reports. Zacks Investment Research downgraded Celanese Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Jefferies Group restated a “buy” rating on shares of Celanese Corp. in a research note on Tuesday, August 23rd. KeyCorp initiated coverage on Celanese Corp. in a research note on Thursday, October 6th. They issued an “overweight” rating and a $80.00 price target on the stock. Nomura set a $77.00 price target on Celanese Corp. and gave the stock a “hold” rating in a research note on Wednesday, October 19th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $75.00 price target (down previously from $78.00) on shares of Celanese Corp. in a research note on Tuesday, October 18th.
In other news, SVP Gjon N. Nivica, Jr. sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $71.36, for a total value of $1,784,000.00. Following the completion of the sale, the senior vice president now directly owns 51,124 shares in the company, valued at approximately $3,648,208.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori A. Johnston sold 83,829 shares of the company’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $72.30, for a total value of $6,060,836.70. Following the completion of the sale, the chief accounting officer now owns 109,645 shares of the company’s stock, valued at $7,927,333.50. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Acrospire Investment Management LLC raised its stake in Celanese Corp. by 114.3% in the third quarter. Acrospire Investment Management LLC now owns 1,500 shares of the company’s stock valued at $100,000 after buying an additional 800 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Celanese Corp. by 6.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,198 shares of the company’s stock worth $1,877,000 after buying an additional 1,678 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Celanese Corp. by 9.0% in the third quarter. Principal Financial Group Inc. now owns 32,831 shares of the company’s stock worth $2,185,000 after buying an additional 2,717 shares during the last quarter. Northern Trust Corp raised its stake in shares of Celanese Corp. by 4.1% in the third quarter. Northern Trust Corp now owns 862,878 shares of the company’s stock worth $57,434,000 after buying an additional 34,036 shares during the last quarter. Finally, Westpac Banking Corp raised its stake in shares of Celanese Corp. by 393.7% in the third quarter. Westpac Banking Corp now owns 57,432 shares of the company’s stock worth $3,823,000 after buying an additional 45,800 shares during the last quarter. Hedge funds and other institutional investors own 97.46% of the company’s stock.
Shares of Celanese Corp. (NYSE:CE) opened at 76.98 on Wednesday. Celanese Corp. has a 52-week low of $55.07 and a 52-week high of $77.49. The firm has a 50-day moving average price of $68.90 and a 200-day moving average price of $67.79. The stock has a market capitalization of $11.02 billion, a P/E ratio of 25.58 and a beta of 1.22.
Celanese Corp. (NYSE:CE) last posted its quarterly earnings results on Monday, October 17th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.06. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.63 billion. Celanese Corp. had a return on equity of 30.69% and a net margin of 8.17%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.50 EPS. On average, analysts predict that Celanese Corp. will post $6.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, October 31st were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $1.44 annualized dividend and a dividend yield of 1.87%. Celanese Corp.’s dividend payout ratio (DPR) is 47.84%.
Celanese Corp. Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.
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